Things have gotten so bad, Foot Locker is sending emails to individual customers assuring them it is still a viable business:
As you are a valued member of the Foot Locker family, I would like to take a few moments to address the misleading information regarding our Company that has been circulating the Web and covered by the general media. Much of this information is being used to encourage consumers to avoid purchasing gift cards this holiday season.
We can assure you that our financial position remains strong and we continue to be a leader within the athletic retail industry. From time to time, we do close underperforming stores, in the course of normal business, in order to concentrate our efforts on those stronger-performing stores that ultimately allow us to better serve our customers.
During this holiday season and beyond, we will continue to offer an extensive selection of the most sought-after products at our more than 2,000 U.S. stores and on-line at footlocker.com, ladyfootlocker.com and kidsfootlocker.com. And, of course, our gift cards will continue to be another great gift idea and are redeemable at all of our stores and on-line.
Thank you for your support.
Corporate Vice President
Foot Locker, Inc.
Oh, the paranoia.